Wedoany.com Report-Aug. 20, SAEL Industries, an India-based integrated renewable energy company, has signed two power purchase agreements (PPAs) for 880 megawatts (AC) of solar photovoltaic projects, strengthening its solar power production portfolio. The agreements include a 400-megawatt project in Punjab and a 480-megawatt project in Gujarat, as announced recently.

In Gujarat, SAEL’s subsidiaries, SAEL Solar P Sixteen and SAEL Solar P Seventeen, entered into a PPA with Gujarat Urja Vikas Nigam Ltd. (GUVNL) for 480 megawatts of solar PV capacity. This includes an initial allocation of 240 megawatts, with an additional 240 megawatts awarded under a greenshoe option. The project is expected to commence commercial operations within 24 months of the agreement’s signing, with GUVNL purchasing the power at a tariff of INR 2.56 per kilowatt-hour for 25 years.

In Punjab, SAEL Solar P15 signed a PPA with Punjab State Power Corp. Ltd. (PSPCL) for a 400-megawatt solar project to be developed within the state. The project is slated for full operation within 24 months of the signing, with PSPCL procuring the power at a tariff of INR 2.97 per kilowatt-hour for 25 years. “These agreements mark a significant step in expanding our renewable energy footprint,” a SAEL Industries spokesperson stated.

SAEL Industries operates across multiple renewable energy sectors, including agri waste-to-energy, utility-scale solar, and solar module manufacturing. Its portfolio encompasses over 7.7 gigawatts of solar independent power producer assets across India, 8.5 gigawatts of tunnel oxide passivated contact (TOPCon) solar module assembly, 5 gigawatts of upcoming TOPCon solar cell capacity, and 165 megawatts of agri waste-to-energy projects. These initiatives highlight SAEL’s commitment to advancing clean energy solutions in India.

The new PPAs reinforce SAEL’s role in supporting India’s renewable energy goals, contributing to sustainable power generation in Punjab and Gujarat. “Our partnerships with GUVNL and PSPCL enable us to deliver reliable, cost-effective solar energy to meet growing demand,” said a SAEL representative. The projects are expected to enhance local energy infrastructure, supporting economic growth and environmental sustainability through efficient, long-term power supply agreements.